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Inactive Financial Institution Letters |
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FIL-31-99
The Federal Deposit Insurance Corporation (FDIC) announced in FIL-27-99: Financial Institution
Letters: dated March 23, 1999, that its Board of Directors had
revised the deposit insurance regulations governing two common types
of accounts: joint accounts and "payable-on-death" ("POD" or
revocable trust) accounts. The
FIL also noted that the FDIC would send each insured institution
a copy of the final rule upon its publication in the Federal
Register. Attached is a copy of the Federal
Register notice.
These revisions took effect on April 1, 1999, the date
of publication in the Federal Register. They
apply to all existing and future joint accounts and POD
accounts, including certificates of deposit.
The FDIC has revised its Internet electronic
deposit insurance estimator ("EDIE") to
incorporate the revisions to the joint account
and POD account deposit insurance regulations.
EDIE is available on the FDIC's Web site (www.fdic.gov). The
FDIC will inform you when the updated versions
of its pamphlet "Your Insured Deposits" and its
instructional manual "The Financial Institution
Employee's Guide to Deposit Insurance" ("Gold
Book") are available. Once "Your Insured
Deposits" is revised, the FDIC will send each
insured institution camera-ready art of the
pamphlet via a financial institution letter (
FIL).
For further information, please
contact Hugh Eagleton (202-942-3668)
of the FDIC's Division of Compliance
and Consumer Affairs; or Christopher
Hencke (202-898-8839) or Joseph
DiNuzzo (202-898-7349) of the FDIC's
Legal Division.
Attachment
(April
1,
1999,
Federal
Register,
Vol.
64,
No.
62,
pages
15653-15657)
Distribution:
All
Insured
Banks
and
Savings
Associations
NOTE:
Paper
copies
of
FDIC
financial
institution
letters
may
be
obtained
through
the
FDIC's
Public
Information
Center,
801
17th
Street
NW,
Room
100,
Washington,
DC
20434
(800-276-6003
or
(703)
562-2200).
April 1, 1999
TO:
CHIEF EXECUTIVE OFFICER
SUBJECT:
Amended Deposit Insurance
Regulations on
Joint Accounts and Payable-on-Death Accounts
Ronald F.
Bieker
Acting
Director
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Last Updated 11/23/2018
communications@fdic.gov